Vijay Surana Archives - Square Feat India https://squarefeatindia.com/tag/vijay-surana/ Real Estate News Website Mon, 06 Oct 2025 15:35:15 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://squarefeatindia.com/wp-content/uploads/2019/12/squrefeatindia_favicon.png Vijay Surana Archives - Square Feat India https://squarefeatindia.com/tag/vijay-surana/ 32 32 🏠 Grand Housing Files DRHP for ₹5 Face Value IPO; Entire Offer is OFS by Promoter https://squarefeatindia.com/%f0%9f%8f%a0-grand-housing-files-drhp-for-%e2%82%b95-face-value-ipo-entire-offer-is-ofs-by-promoter/ Mon, 06 Oct 2025 15:35:15 +0000 https://squarefeatindia.com/?p=10036 Grand Housing, a Chennai-based plotted development real estate firm, has filed its DRHP with SEBI for an IPO via an offer for sale of 3.55 crore shares by promoter Vijay Surana. The company focuses on residential and industrial land development and reported a sharp rise in revenue and profit in FY25.

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]]> Chennai-based real estate developer Grand Housing has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for its upcoming Initial Public Offering (IPO).

The offer, with a face value of ₹5 per equity share, comprises an Offer for Sale (OFS) of up to 3.55 crore shares by the company’s promoter, Mr. Vijay Surana J. No fresh issue component has been announced.

🏗 Company Overview

Incorporated in 2004, Grand Housing focuses on plotted real estate development primarily in Tamil Nadu, especially in and around Chennai. The company’s business model involves:

  • Acquiring parcels of land
  • Building basic infrastructure — roads, power, sewage, water
  • Converting the parcels into developable land for residential or industrial use

In some cases, Grand Housing acquires contiguous parcels to create larger tracts for more economically viable development.

📌 Project Segments

  1. Residential Plotted Development
    • Target buyers: individual homeowners constructing houses or villas
    • Plot sizes: 600–2,400 sq. ft.
    • Pricing: ₹1,500–₹5,000 per sq. ft.
  2. Industrial Plotted Development
    • Focuses on large contiguous parcels for industrial use

The company’s operations are concentrated in Chennai, one of India’s most urbanized and economically dynamic cities, benefiting from cultural heritage, moderate climate, and robust population growth.

🌐 Land Bank and Financials

As of March 31, 2025, Grand Housing had land reserves of 83.13 million sq. ft. (1,908.52 acres), excluding ongoing, completed, and upcoming projects.

  • Revenue from operations: ₹156.66 crore in FY25 (vs ₹94.61 crore in FY23)
  • Net profit: ₹84.59 crore in FY25 (vs ₹30.92 crore in FY23)

💼 IPO Structure & Listing Plan

The IPO will be carried out through the book-building process:

  • QIBs: Not more than 50% of the offer
  • Non-institutional bidders: Not more than 15%
  • Retail investors: At least 35%

Smart Horizon Capital Advisors is the Book Running Lead Manager, and Bigshare Services Pvt. Ltd. is the Registrar. The company’s equity shares are proposed to be listed on BSE and NSE.

Also Read: WeWork India Files DRHP with SEBI for IPO

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